Europe: rumours of its demise are exaggerated

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At Christmas catastrophe seemed inevitable. Now, thanks to the two Marios, the outlook is far brighter

Here at the World Economic Forum in Davos it’s hard to shake off a profound sense of gloom about the state of the world. Is the West destined for permanent slump, people are asking, under the weight of debt and underskilled workers? Could China stagnate (a question of enormous importance given that China’s incremental annual growth is greater than the GDP of some countries? How do any of us — citizens, workers, companies, governments — keep our footing on a globe that has become profoundly interconnected and unpredictable?

It’s tricky stuff, being addressed here by some deep thinkers. Yet on the dominating